Kennebec Savings Bank Has $490,000 Holdings in American Tower Corporation $AMT

Kennebec Savings Bank grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,218 shares of the real estate investment trust’s stock after purchasing an additional 87 shares during the period. Kennebec Savings Bank’s holdings in American Tower were worth $490,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. ASR Vermogensbeheer N.V. grew its position in shares of American Tower by 6.7% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 195,954 shares of the real estate investment trust’s stock worth $43,307,000 after purchasing an additional 12,243 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of American Tower by 14.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 218,186 shares of the real estate investment trust’s stock worth $48,223,000 after acquiring an additional 28,046 shares during the period. BSW Wealth Partners lifted its holdings in shares of American Tower by 11.8% during the 2nd quarter. BSW Wealth Partners now owns 1,880 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 199 shares during the period. Vigilare Wealth Management lifted its holdings in shares of American Tower by 114.4% during the 2nd quarter. Vigilare Wealth Management now owns 3,607 shares of the real estate investment trust’s stock worth $797,000 after acquiring an additional 1,925 shares during the period. Finally, Forbes J M & Co. LLP lifted its holdings in shares of American Tower by 6.9% during the 2nd quarter. Forbes J M & Co. LLP now owns 1,128 shares of the real estate investment trust’s stock worth $249,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower in a report on Wednesday. Finally, Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.07.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $193.22 on Thursday. The company has a market cap of $90.47 billion, a price-to-earnings ratio of 70.26, a PEG ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $203.12 and a 200 day simple moving average of $212.08. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. American Tower’s payout ratio is currently 247.27%.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.